Malaysia’s Petronas third quarter profits jump by nearly 20 percent

January 9, 2014

Dateline 2013-11-13, The China Post:

Malaysian state energy firm PETRONAS said Tuesday its third-quarter net profit rebounded, rising 19.5 percent year-on-year due to higher sales of crude oil and other products.

Revenue for the third quarter was up 19.2 percent to 81.4 billion ringgit compared to 68.33 billion ringgit last year, said the company, Malaysia’s only representative in the Fortune 500.

The increase in revenue was driven by higher sales of crude oil, processed gas and other products on the back of stronger customer demand, together with the effect of the strengthening of the dollar against the ringgit.

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MOF willing to assist Labuan emerge Malaysia’s International O&G hub

January 8, 2014

Dateline 2013-11-13, The Edge:

The Finance Ministry is willing to help Labuan realise its aspiration of emerging as Malaysia’s international oil and gas hub, says Deputy Finance Minister Datuk Ahmad Maslan.

He said the federal government was seriously looking at developing the oil and gas sector in Labuan.

“With increasing international and local players operating in Labuan the Federal government, through the Ministry of Finance, is willing to assist turn the plan into a reality,” he told Bernama.

Ahmad Maslan said the active participation of local players was crucial in developing the island’s economy.

“What we would like to see is more local participation in the oil and gas sector,” he said.

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QUILL-PETRONAS Team Wins IChemE Award for Ionic Material to Remove Hazardous Mercury

January 7, 2014

Dateline 2013-11-11, Azom (?):

The project by Queen’s University Ionic Liquid Laboratories (QUILL), in collaboration with Malaysian oil and gas giant PETRONAS, was the major winner at the Institute of Chemical Engineers (IChemE) Awards. As well as collecting the award for Outstanding Achievement in Chemical and Process Engineering, the team won the Sustainable Technology Award and Chemical Engineering Project of the year, marking it out as the best chemical engineering project for innovation in waste reduction.

 

This is The Apprentice’s Nick Hewer with Professor Jim Swindall, Co-founder of QUILL and Paul Haworth, Chief Process Engineer at Sellafield Ltd. Credit: Queen’s University Belfast

 

The QUILL and PETRONAS team were presented with their awards by The Apprentice star and Countdown host Nick Hewer at the awards ceremony in Bolton.

QUILL scientists beat off competition from companies and universities around the globe to win the awards. Their lab, the first of its kind in the world, developed a new ionic liquid material to remove hazardous mercury from natural gas. Ionic liquids or ‘super solvents’ are salts that remain liquid at room temperature and do not release hazardous vapours. They can be used as non-polluting (green) alternatives to conventional solvents, and are revolutionising chemical processes by offering a much more environmentally friendly and sustainable solution than traditional methods.

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Saturday Star 2014-01-04 – Job Opportunities

January 6, 2014

Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper

  • I’m looking for a senior process engineer, 7+ years experience. Send your cv here. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • Nothing of interest this week.

Help me (and you) increase my cloud presence. Pleease use some form of cloud storage, so if you lose your laptop with those oh-so-important reports, be assured that (with Internet access) the files are still accessible. Use my referrals for Dropbox, MiMedia,  SpiderOak, MediaFire, Ubuntu One, Sugar Sync.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

This week, my theme is, you need to be a better all round engineer. Hence, some selections for the process engineer:

A Simple Guide To Understanding Jet Engines, Process Plant Instrumentation: Design and Upgrade, Mechanical Design of Process Systems: Piping and Pressure Vessels

The IEM has a coffee table book out, Engineering Heritage of Malaysia (no, it is not Datuk Seri Samy Vellu’s bio). Visit here for details.

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NEL Appoints Industry Veteran to Launch Asia Pacific Flow Measurement Business

January 5, 2014

Nah, come see me first about your measurement needs. You know you want to.

Dateline 2013-11-11, Jakarta Post:

NEL has appointed Gilbert Tonner as Regional Manager as it launches its flow consultancy business in the Asia Pacific region. With inaccurate flow metering estimated to cost the industry billions of dollars per year worldwide, stakeholders are demanding greater accountability from oil and gas operators in the region.

Based in Kuala Lumpur, Malaysia, the new manufacturer-independent business will offer a range of unbiased training, testing and calibration support to oil & gas operators in Asia Pacific. This follows PETRONAS, the national oil company of Malaysia, awarding NEL a licence to operate.

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First Oil Commences at Balai Field in Balai Cluster RSC offshore Sarawak

January 4, 2014

Dateline 2013-11-11, Rigzone:

Petroliam Nasional Berhad (Petronas) announced Sunday that oil production from the Balai field in the Balai Cluster Risk Service Contract (RSC) area offshore Sarawak, Malaysia has commenced Nov. 6.

The field’s first oil was achieved utilizing an early production vessel (EPV) as a part of the RSC area’s extended well testing (EWT) program.

The Balai Cluster RSC was awarded in August 2011 to BC Petroleum Sdn Bhd, a partnership between Roc Oil (Malaysia) Pty Ltd, Dialog D & P Sdn Bhd and Petronas Carigali Sdn Bhd. It is the second RSC that has successfully achieved oil production after the Berantai gas field.

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Oil tanker hijacked off Malaysia

January 3, 2014

Dateline 2013-11-08, Bangkok Post:

An oil tanker has become the second such vessel to be hijacked in Malaysian waters in four weeks, the International Maritime Bureau said on Friday, pointing to rising piracy in the region.

The Panamanian-flagged vessel was boarded  on Thursday by 10 armed pirates, who emptied it of the oil it was carrying into another ship before disembarking.

In early October a Thai-flagged oil tanker went missing for two days after a hijacking before being released without its cargo.

The IMB said there had been an increase in the number of attacks on Malaysia’s coast recently but added it could not be sure if the two most recent attacks were by the same group.

“This is the third attack in two months, with the last two using the same modus operandi to steal the gas oil,” said Noel Choong, head of IMB’s Kuala Lumpur-based piracy reporting centre.

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Electricity rates up next year as Putrajaya trims subsidies, says business daily

January 2, 2014

Dateline 2013-11-08, The Malaysian Insider:

Electricity rates in Malaysia are expected to rise next year as Putrajaya plans to trim fuel subsidies for power producers in the first quarter of 2014, a business daily reported today.

The Malaysian Reserve said estimates show that electricity could rise as much as 19%, from 33.5 sen per kilowatt-hour to 40 sen per kilowatt-hour, if all the subsidies are removed.

The business paper quoted Ministry of Energy, Green Technology and Water secretary-general Datuk Loo Took Gee as saying that the reduction in fuel subsidies for the power sector is essential to stabilise the economy.

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2013 in review

January 1, 2014

The WordPress.com stats helper monkeys prepared a 2013 annual report for this blog.

Here’s an excerpt:

The Louvre Museum has 8.5 million visitors per year. This blog was viewed about 150,000 times in 2013. If it were an exhibit at the Louvre Museum, it would take about 6 days for that many people to see it.

Click here to see the complete report.

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Barakah shares trade like ‘HOT CAKES’ on listing debut

January 1, 2014

Is hot cakes an euphemism? Dateline 2013-11-07, Malaysia Chronicle:

Barakah Offshore Petroleum Bhd, which took over the listing status of Vastalux Energy Bhd, saw its shares traded like hot cakes as investors bet that the company will win more oil and gas jobs in the near future.

The stock opened on Bursa Malaysia’s Main Market at 98 sen, a hefty 44.5-sen premium to its 53.5 sen reverse takeover price of Vastalux. The loan stocks, Barakah-LA, opened at 80.5 sen, up 27 sen from its offer price of 53.5 sen.

The mother shares were heavily traded throughout the day, ending at RM1 a share, while the loan stock closed at 62 sen.

Investors were betting that Barakah could be the stellar new stock on the Bursa this year, following in the footsteps of Datasonic Bhd.

Datasonic, which begun trading on the Bursa in September 2012, has seen its stock price triple in value over a 12-month period. It stock closed at RM6.44 yesterday, a steep rise from its RM2 IPO price.

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